Unleashing the potential: Buenassa’s vision for the development of the DRC’s mining sector 

by Reagan Baseya  Mbungu updated on October 05, 2023       

The Congolese mining industry offers diversified potential scattered across several  of its provinces, and its large-scale development could play a vital role in the economy and make it a worldwide power, but it often faces challenges in terms of traceability, illegal exploitation, corruption, human rights violations and social and environmental responsibility.   

At the heart of this mix revolving around the Congolese mining industry emerges an innovative and promising company: Buenassa, a company based in the Democratic Republic of Congo, which is taking a position in the metal trading market and is also developing solutions for the financing, processing, recycling and trading of minerals considered critical and strategic, while contributing to the implementation of local mineral recovery programs for the development of its national mining industry.  

Buenassa’s mission is to be a key player in the market for processed minerals, from extraction to export, based on the philosophy of enhancing the value of Congo’s natural mining resources, from which the country derives very little benefit, by processing them locally  

Buenassa was founded by Mr. Eddy B.K Kioni, a multi-entrepreneur with experience of managing public companies in sectors as diverse as agriculture, energy and air transport, and a passionate advocate of climate action, energy transition, the digital economy and the DRC’s transition to a more advanced economy, who also serves as its CEO and has surrounded himself with a group of experts passionate about adding value to local mining. Their vision is to cover the entire mineral supply chain, from extraction to export, promoting responsible practices integrated with climate action awareness and benefiting local communities, supporting inclusive youth and gender economic development.   

Buenassa’s signature project is the creation of a refinery to process two essential minerals: copper and cobalt, focusing on products such as copper cathodes and cobalt hydroxide, with plans to produce cobalt sulfate and lithium at a later stage.  

By opting for an innovative and long-awaited approach, Buenassa aims to reduce the Congo’s dependence on the export of raw minerals, enabling it to capitalize on the country’s comparative advantages in terms of mineral resources, in line with the vision of Head of State Félix-Antoine Tshisekedi Tshilombo, whose full support the company enjoys as the Congolese government seeks greater control over its mineral resources, particularly copper and cobalt, which are essential for the energy transition and as precursor materials for electric vehicle batteries, and by meeting the expectations of the Congolese people not only in terms of job creation, but also in terms of quality jobs for women and young people to ensure greater inclusion.  

 

 

  

 

Indeed, these minerals are increasingly in demand, particularly for new-generation rechargeable batteries and emerging technologies. Buenassa is thus seizing the opportunity to diversify its offerings and establish itself as a major player in the Congolese mining industry on a global scale.  

Buenassa’s CEO, Mr. Eddy B.K Kioni, , emphasizes the importance of the company’s integrated approach to maximizing the positive impact of its mining operations. He says: “We understand that to truly unlock the potential of the mining sector in the DRC, we need to take a holistic approach. Our comprehensive service offering enables us to manage all aspects of the supply chain, ensuring that every step meets the highest standards of social and environmental responsibility.”  

As announced last September, this large-scale project has found a reliable partner in Delphos, the benchmark for innovative financial solutions for businesses and development projects, specializing in the mobilization of long-term, competitively priced capital for companies, fund managers, developers, SMEs, states and entrepreneurs worldwide. Delphos has focused on emerging markets for nearly 40 years, with the intention of supporting and enabling projects with social and environmental impact, and its partnership with Buenassa to secure financing for this project, recognizing the high value of the company and the opportunities it could bring to the people of the Democratic Republic of Congo, particularly those affected by the global supply chain for critical minerals.  

Delphos intends to raise funds worth US $350 million to build a modern refinery that will produce copper cathode to the London Metal Exchange -LME- standard of 99.99% purity and make cobalt sulfate, a step above locally available cobalt sulfate, for use as a battery precursor. This opportunity is in line with the Memorandum of Understanding signed between DR-Congo, Zambia and the United States to develop local battery manufacturing for electric vehicles.  

Eddy Kioni, CEO of Buenassa, said at the UNGA 2023: “Preparing a project that reflects the national will to play a role in the energy transition can create much-needed momentum”. He added that “Delphos’ enthusiasm for Buenassa demonstrates that it is possible to raise capital despite the complexity of the operating environment. Growth capital for the energy transition is available for the Democratic Republic of Congo when it is ESG-focused”.  

The company will take care of all stages, from extraction to export, enabling it to guarantee the quality and traceability of its products, thus ensuring efficient and reliable management of the entire process. As a result, it will rely entirely on blockchain, a distributed ledger technology that enables transactions to be stored and verified in a transparent and immutable way. Using this technology, Buenassa can securely record every stage of the supply chain. This ensures that the minerals mined by Buenassa are produced ethically, complying with international standards and avoiding minerals from illegal or conflictual sources.  

By using blockchain technology, the company can provide stakeholders, such as customers and investors, with verifiable information on the origin of minerals and the conditions under which they were mined. This builds confidence in the ethical provenance of Buenassa’s products.  

But Buenassa is also strongly committed to responsible practices in all its mining operations. The company recognizes the importance of the “Climate Smart Mining” initiative, which aims to promote climate-friendly mining, minimizing greenhouse gas emissions and promoting energy efficiency. By integrating this initiative into its operations, Buenassa is contributing to the global fight against climate change by improving energy efficiency. Buenassa is committed to minimizing its impact on climate change by implementing environmentally friendly technologies and processes in its mining operations.  

Buenassa’s External Affairs Director, Ms. Thynna Ngangura, also highlights the company’s commitment to sustainable development and social and environmental responsibility. She says: “The mining sector in Democratic Republic of Congo (DRC) has long been a crucial economic pillar for the country. With its vast resources, the DRC has enormous potential to stimulate economic growth and improve living conditions for its people. However, to fully realize this potential, it is essential to adopt responsible and sustainable practices of investing in projects that improve the quality of life of local populations and protect its environment.”  

Buenassa recognizes that it has a long way to go to achieve its goals in a complex market, but is incredibly enthusiastic about the opportunities that exist to make an active contribution to the Congolese national economy.  

Africa, the cradle of humanity, a land that stirs the soul with its mystic allure. My soul chose to be born in a land where golden savannahs stretch far and wide. A land where one can witness the plains come alive with the rhythmic footsteps of herds embarking on their breath-taking migration in a timeless display of resilience and unity. A country that holds beauty, that enchants the senses and ignites wonder.

My land, my motherland Kenya. Born into a Kenyan family of Asian descent, a family that has lived and breathed Kenya and Africa for previous 5 generations, I can only identify as a Kenyan, a proud 6th generation African. Brought up in a family where ‘Being Human’ was the main principal belief. We have been raised with values that don’t differ greatly from those of the thousands of tribes that make up Africa – roots, heritage, family, faith, morals, principles and more.

Many years ago, I stood on stage at a speech writing contest in High School, where I described the strategy behind Muhamad Ali’s glorious win where he “floated like a butterfly, and stung like a bee” against George Foreman, in the fight forever known as the ‘Rumble in the Jungle.’ Years later, never even in my wildest imagination, did I imagine I would be living in the very ‘jungle’ itself, and working in the world of strategic storytelling and encouraging the amplification of Congolese voices and narratives far and wide across the globe from the heart of Africa.

Congo or as it was then called Zaire, a land that was stamped in the memory of the World as the place where Ali fought Foreman and caused a mighty Rumble in the boxing world. A battle that was immortalised in the song ‘In Zaire’ sung by Johnny Wakelin. Congo was a land everyone wanted to know about.

A land that is endowed with all the riches known to mankind. A blessed land, with a rich cultural heritage and a teeming, deserving population. A land sadly destroyed by its colonial past. Which, since its independence, is slowly trying to attain its rightful place in the World. It is here that I arrived five years back.

As I look back on my first five years of living in the Democratic Republic of Congo, there have been moments of floating and very often, little stings. I moved to Kinshasa for love. In the beginning, I can honestly admit, it was not love for the city or the country or the people – I didn’t know enough about this 

ginormous country and the 100+ million people that fill its borders – it was personal love. But five years later, I never thought I could love a country and its people as though they were mine. That love comes from the heart that feels the mystic rhythm of the African land, and I couldn’t be prouder to call it home.

You can never shake the ancient dust of Africa off your boots – no matter how far and wide you travel.

Having lived in London for thirteen years followed by a few years in the Middle East, returning to Africa was natural. 

The love for Africa always remains in the soul. Living in the heart and soul of Central Africa, has been an adventure.

The narratives that have filled Western Media have sung a different song for many years, call it geo-politics, strategic positioning, economic control, all things aside, the story of the Congo has never really been told loudly by the Congolese themselves. From the outside looking in, the perceptions are dotted and plagued with negativity, but on the ground, the beating hearts of the Congolese are rumbling a little louder day by day towards progress, and it’s in these slivers of hope, that the true stories are revealed.

The stories that spotlight the young entrepreneur battling to build a viable business, young students carving out their careers currently into untapped and underdeveloped industries, the non-existent middle class that should build the private sector and contribute to its growth and the country’s economy, international investors building projects that create jobs and wealth for the locals as much as it does for the financial interest in the Congo. We can’t talk about changing the narrative of a country when we don’t discuss the positive changes that education, infrastructure developments, economic policies, universal health care, food self sufficiency etc can contribute towards developing Congo.

In Africa, a transformative era is on the horizon as the continent sets its sights on change and development like never before, and country examples like Nigeria, Ghana, South Africa, Morocco, and Kenya are a testament to these positive changes. A combined drive by the Africans to build an Africa by Africans for a future developed Africa. A daunting task as a fellow African who first arrived in Kinshasa for a two-week trip which quickly extended from month to month and snowballed into creating a business in the field of strategic advisory and communications. It was created around the simple premise – the African narrative needs to be written by the Africans, and the Congolese needed a platform for their voices to be heard as far and wide across the globe.

At the heart of Africa, the center of its soul, the Congolese beats are picking up. Business is quietly picking up, post the first peaceful democratic elections. As the incumbent President Felix Tshisekedi embarks on his second mandate, the world waits with bated breath for the promised change and greater development, the impact of which can be felt across the entire population. Whether its infrastructure, governance reform, education, better health, access to basic needs – there are plenty of conversations to be had. Storytelling, an essential part of Congolese culture, an oral tradition that is filled with narratives, stories, and songs, need to be told from the perceptions and opinions of the Congolese.

In the past, and especially in 2023 the power and bias of the international media came to the forefront.

Geopolitics and powerful Media Houses controlled and amplified the narrative that in their perception was important. It’s only natural to question the visibility of certain global issues over another. This raises the question about the impact of our voices when catastrophes and issues affecting an African country are narrated differently. Whether it’s election, unrest or other catastrophes affecting an African country, sometimes the western media does not consider it newsworthy because they do not have an in-depth understanding and information of the issues and disasters that affects this Continent.

There are a lot of positive changes happening as well, and these news worthy developments need to be made a part of the Global narrative. Positive or negative these conversations need to be had openly and who better than the Africans to be at the forefront of this narrative. The true voices of the Congolese need to be heard from their heart and soul and from their perspective. That’s when the true picture of the reality of their lives, struggles and aspirations emerges.

There is a need for a platform where the Congolese voices and the African voices can be heard, where views can be freely given not as a negative but as a positive approach to help bring the DRC to take its rightful place, not just in Africa but also in the World. Is it not our experiences from around the world when put together with like minded individuals – where greatness begins? Where stories and narratives become the basis for legacies.

DRConversations is the platform created as a gift for all the voices that need to be heard, for all the emotions that need to be expressed and to bring forth the dreams and aspirations of a nation on the cusp of development. Join this journey by sharing openly your knowledge and experience to make DRC a happy, positive and progressive Nation.

It’s time for another rumble in the jungle – Welcome to the conversations from the Congo.

                                                                                                                                                                                                                                                             KS